In fact, on June 5438+065438+1October 18, the China Securities Regulatory Commission has made a decision on administrative punishment for Lu and others.
According to the relevant regulations, the CSRC decided to give UCAR a warning and impose a fine of 500,000 yuan; Give Lu a warning and impose a fine of 200,000 yuan; Chen and Wang Peiqiang were given a warning and fined100,000 yuan respectively; Zhilin was given a warning and fined 50,000 yuan.
From Baowo
According to the execution document, in June of 20 19 and 1, UCAR acquired 67% equity of Beijing Baowo through Changsheng Xingye, which it actually controlled. In the financial statements disclosed in the first quarterly report and the semi-annual report of 20 19, UCAR did not include Beijing Baowo in the scope of consolidation, resulting in its underreporting ratio of assets exceeding 58.32% and 64.05% respectively.
In fact, Lu probably never thought that the Baowo car he bought a year ago would bring so much trouble to China.
According to Lu at that time, the acquisition of Baowo was not only the first step taken by China in the fields of automobile manufacturing and new retail, but also a key step for China to build a closed-loop industrial chain.
The initial performance of Baowo did not meet Lu's expectations. With the strong support of Baowo Automobile, a new retail platform in China, the sales volume of Baowo Automobile 20 19 exceeded 30,000 vehicles in the first half of the year, with a year-on-year growth rate of 80%.
However, even though Baowo made great efforts to speculate on the concept of luxury car, the shortcomings of its product technology remained unresolved and the failure rate remained high. Relevant website analysts once said, "This means that most of Baowo's cars are shipped with quality defects, which is worrying."
Facts have proved and confirmed this view. According to relevant data, in the first half of this year, the sales volume of Baowo BX3 model has been zero for five consecutive months, and the BX7 model with relatively high configuration also fell to zero in February this year.
In fact, at this time, if there is no "catalyst"-Ruixing, UCAR may be able to "stand up" again, but it is also at this time that Ruixing "thundered", which also caused the overall downward fuse of UCAR.
Ruixing "helps"
On April 2, 2020, Luckin Coffee issued an announcement, acknowledging the false transaction of 2.2 billion yuan, and its share price plummeted by 80%, and it was suspended several times during the session. The largest shareholder behind Luckin Coffee is Lu, and the chairman and CEO of Luckin Coffee is also Lu. From this perspective, in addition to its CAR Inc, Shenzhou Special Car, Shenzhou Car Purchase and Shenzhou Car Flash Loan, Luckin Coffee belongs to the Shenzhou Department.
Therefore, the CSRC initiated an investigation into Luckin Coffee, and also initiated an investigation into its domestic affiliates, Shenzhou UCAR Co., Ltd. and Beijing Hydrogen Power Yiwei Technology Co., Ltd., for alleged information disclosure violations, and planned to impose administrative penalties on the illegal cases of Shenzhou UCAR and Hydrogen Power Yiwei.
At the same time, Lu resigned as chairman and non-executive director of CAR Inc on June 9 this year.
Sell high-quality resources
In the face of successive blows, UCAR began to consider the strategy of "abandoning the car to protect the pawn". The old big brother of the car company unfortunately became Lu's first abandoned son.
The car company's "sales road" is full of twists and turns. On April 16 this year, UCAR said it would transfer its shares to AmberGem. However, UCAR tried to "hand over" CAR Inc' s largest shareholder seat to Warburg Pincus of the United States, but it failed in the end. After the first batch of shares were acquired, a new "takeover man" appeared in BAIC Group.
On May 3 1, a non-legally binding strategic cooperation agreement was signed with BAIC Group. However, on July 2, SAIC announced that its wholly-owned subsidiary and China UCAR Co., Ltd. and its related subsidiaries and Amber? Gems? Holding? Ltd. signed a tender offer. However, on July 20th, SAIC announced that in order to protect the company's interests, SAIC Port decided to terminate the above transaction.
165438+1October 10, UCAR announced that the company intends to pay MBK? Indigo, a subsidiary of Partners? Charm? Company? Limited? Transferred 443 million shares of CAR Inc, its holding company, with a transfer consideration of HK$ 65,438+0,7438+0 billion.
Despite the twists and turns in the sale process, the transaction price in CAR Inc rose again and again, from 2.3 Hong Kong dollars per share in Huaping to 4 Hong Kong dollars per share in MBK today. At the same time, CAR Inc' s share price has bottomed out again and again. As of today, the share price of auto companies has rebounded by nearly 70% from the low point on April 3.
However, due to the negative impact of the Luckin coffee incident, financial institutions and suppliers showed signs of a run. If there is a run, it will put great pressure on UCAR's cash flow and even affect its normal continuous operation.
UCAR's future is very slim!
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.